NOB- Warangal news: The Task Force and Palakurthi police have jointly arrested a four-member gang that looted crores of rupees from the public with the hope of high profits for the investment they made. Along with Rs 5 lakh 92 thousand, the police have seized 684.5 grams of gold coins, 150 grams of gold ornaments, a car, cell phones, a laptop, receipt books, a cash counting machine, check books, stamps and documents related to fields and houses from this gang.
Details of the accused arrested by the police:
1. Theppali Saidulu, father’s name Biksham, age 55, hometown Gaddi Palli, Suryapet district. Current residence Palakurthi mandal center, Janagama district.
2. Manubotula Ramakrishna, father’s name Sairam, age 36, Nandigama, Krishna district, Andhra Pradesh, current residence Palakurthi mandal center, Janagama district.
3. Podila Suresh Kumar, father’s name is Venkatanarasayya, age 35, native village is Pen Pahad, Suryapet district, current residence is Palakurthi, Janagama district.
4. Podila Sridhar, father’s name is Anjaneyulu, age 30, native village is Huzurnagar, Suryapet district, current residence is Palakurthi, Janagama district, police have identified them as residents.
Disclosing details regarding this arrest, the Warangal Police Commissioner said that the main accused in the gang arrested by the police, Theppali Saidulu, had set up a company named Hebsiba in the name of his wife Narayanamma in the year 2023. Later, the main accused started the lottery business in the year 2024 without any government permission, showing the hope of high profits. Those who join this lottery will have to pay six thousand rupees in advance. He deposits four thousand of the money paid by the members with himself and gives the remaining two thousand rupees to the members to gain their trust in this organization. In reality, these items are worth only three hundred rupees. A member can get any number of memberships in this organization. He gives back the money to each member who joins at the rate of one thousand rupees per month for 20 months. The main accused, along with the other accused, set up agents in the villages and registered about 28,493 memberships and kept a total of 11 crore 39 lakh rupees of people’s money with him and ran the business. Apart from that, the police investigation has confirmed that the accused cheated the members of another 4 crore 84 lakh rupees by giving goods worth only three hundred rupees to the members. Especially due to the greed of the people, lakhs of rupees were also invested in this organization. The police received several complaints against this company and the police, realizing the danger of the gang members running away with public money, detained the gang members and interrogated them. The fraud committed by this gang was revealed to the police. The police officers, who found that the money collected by this gang was deposited in 17 different banks, have frozen the bank accounts to prevent any misuse of Rs. 5 crore 48 lakh and 64 thousand. The Warangal CP revealed that there were more than ten cheating cases against the main accused in the past in Medak and Suryapet districts as well as in Illandu and LB Nagar police stations. Speaking on this occasion, the CP said that if people deposit large amounts of money in bogus companies believing that they are getting huge profits, then at some point the board of that company will turn over and then they will lose the entire amount. The CP advised the people not to believe the words of such fraudsters and to think carefully before investing money. Who would not believe if they say that they will get more profit in a short time? The CP congratulated the police officers and staff of the task force and the Palakurti police personnel, including West Zone DCP Rajamahendra Nayak, Vardhan Peta, Task Force ACP Narsayya, Madhusudhan, Task Force Inspector Pawan, Palakurti CI Janakiram Reddy, Palakurti SI, Task Force SI Vamsi Krishna, Dilip, who showed great talent in catching this gang.
